Devin M. Krupka Sells 3,770 Shares of Bandwidth Inc. (NASDAQ:BAND) Stock

Bandwidth Inc. (NASDAQ:BAND) insider Devin M. Krupka sold 3,770 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.70, for a total value of $59,189.00. Following the sale, the insider now directly owns 19,188 shares in the company, valued at $301,251.60. This represents a 16.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Bandwidth Trading Up 0.5 %

Shares of Bandwidth stock traded up $0.07 on Tuesday, reaching $15.17. 441,933 shares of the company’s stock were exchanged, compared to its average volume of 282,968. The company has a market capitalization of $417.33 million, a P/E ratio of -26.61 and a beta of 1.54. Bandwidth Inc. has a 52 week low of $13.51 and a 52 week high of $25.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.34 and a current ratio of 1.34. The firm’s 50-day moving average is $17.17 and its two-hundred day moving average is $17.90.

Bandwidth (NASDAQ:BAND) last issued its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.36). Bandwidth had a positive return on equity of 0.53% and a negative net margin of 0.87%. The company had revenue of $209.97 million for the quarter, compared to the consensus estimate of $203.68 million. During the same period in the prior year, the company earned $0.38 earnings per share. Sell-side analysts predict that Bandwidth Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BAND. Morgan Stanley upped their target price on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. William Blair reaffirmed an “outperform” rating on shares of Bandwidth in a research note on Friday, February 21st. Barclays dropped their price objective on shares of Bandwidth from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd bought a new stake in shares of Bandwidth during the fourth quarter valued at approximately $25,000. Quarry LP raised its holdings in Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after buying an additional 1,245 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Bandwidth in the fourth quarter valued at $50,000. SBI Securities Co. Ltd. acquired a new position in shares of Bandwidth during the fourth quarter valued at about $69,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Bandwidth during the third quarter worth about $74,000. Institutional investors own 68.53% of the company’s stock.

About Bandwidth

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.